Is 62521, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 62521 is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, 62521 has remained a Seller's Market.

Key Takeaway

62521 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 62521, IL

How much do homes in 62521, IL cost?

Median Sold Price

$134,535

$79/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$14,640(+12.2%)

Key Takeaway

Homes in 62521 have sold for 12.2% more than they did a year ago.

Summary: The median home sold price in 62521 was $134,535 in November 2024, up 12.2% from last year, and the median price per square foot was $79.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $46.7K$45K
-3.7%
2 $69K$59.7K
-13.5%
3 $121.7K$138.5K
+13.8%
4 $205K$181K
-11.7%
5+ $442K$323.5K
-26.8%

Summary: 62521 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.7%, 2 bedroom homes decreased by 13.5%, 3 bedroom homes increased by 13.8%, 4 bedroom homes decreased by 11.7%, and 5+ bedroom homes decreased by 26.8%.

Median Sold Price Compared To Nearby Zip Codes

62521
+12.2%
62549
+9.7%
62522
-12.5%

Housing Supply in 62521, IL

How many homes are available in 62521, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
140127-9.3%

Summary: The 62521 real estate market had 127 homes for sale in November 2024, a 9.3% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 01
+100.0%
2 2622
-15.4%
3 7671
-6.6%
4 2521
-16.0%
5+ 1312
-7.7%

Summary: The 62521 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 15.4%, 3 bedroom homes decreased by 6.6%, 4 bedroom homes decreased by 16%, and 5+ bedroom homes decreased by 7.7%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
3740+8.1%

Asking Price vs. Sold Price

21 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 62521, you may be able to get a good deal. 52.5% of homes here sold below asking price last month.

Summary: A total of 40 homes were sold or pending in 62521 in November 2024, up by 8.1% month-over-month. Of the 40 sold homes, 53% were sold under asking, 23% were sold at asking, and 25% were sold over asking.

Days on Market for 62521, IL

How long does it take to sell a home in 62521, IL?

Average Sale Time

Nov 2023Nov 2024CHANGE
21 Days50 Days+140.0%

Summary: Homes in 62521 had an average of 50 days on market in Nov 2024, up by 140% compared to last year.

Breakdown of Home Sale Times

23 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 62521 are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 40 homes were sold in 62521; 57% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 21 Days Ago

Newest Listings in 62521, IL

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